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<p>[QUOTE=&quot;EWC3, post: 4585622, member: 93416&quot;]I would rather say the ancient world tends to look more like the world before the suspension of gold convertibility during WWI. And the UK attempt to restore convertibility after that was memorably important for very many in the 1920’s - at least where I come from. I have to admit I fear few populations have actually been as ill informed on macro-economic matters as our current one.</p><p><br /></p><p>If you are saying monetary matters are very complex so we must proceed with caution I completely agree. But I would not want to go down the road of belittling its importance too much. That was the line taken by the very influential Moses Finley, and I am not alone in seeing that line as being as much Keynsian propaganda as objective history (see for instance comments by von Reden)</p><p><br /></p><p><br /></p><p><br /></p><p>People in rural agriculture might get by without coin at all, but if they did they would often be at the mercy of their landlords. Propertied urban types too could get by on book credit for a good while. It seems to be poor urban artisans living hand to mouth who depended heavily of copper coin day to day – for them it could be a life or death matter.</p><p><br /></p><p>The reason I turn away from the problems of valuing the “Greek Imperial” copper is just that it seems a way more difficult task than valuing the silver. Probably administered in ad hoc ways by town councils with very large fiat components of value. So running straight at that whole problem rather than starting by figuring out just the silver seems to risk making the best the enemy of the good.</p><p><br /></p><p>Rob T[/QUOTE]</p><p><br /></p>

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